I had applied for the home loan in Deutsche Postbank Home Finance Ltd, Jayanagar, bangalore for 18 lakhs to purchase a house. House is located in Akshay nagar, Ramamurthy nagar. They had taken 11, 582 Rs as processing fees. I was informed that the loan has been sanctioned after 2 weeks of processing and i recieved formal sanction letter for loan file No. 242734 on 26th May. I had signed up all disbursement form, sanction letter, 6 bank cheques etc and arranged for registartion. After collecting everyhting they informed me that the loan has not been approved and my application is rejected due to some legal obligation but they didn't sent me any formal letter saying that loan is rejected.
I was told that the money taken for processing will be not be refunded (11, 582 Rs) as the loan has been
sanctioned but legal obligation and try for some other property. I have been told by executive that they are
going to refund the processing fees before applying for the same and now they are telling that as loan is
sanctioned we neither return the pre-processing cheque nor fund for this property. They haven't yet handedover all the documents (legal, personal 6 bank cheques) i had given yet. This is a simple example of harrasment. They can sanction loan to everyone like this and make money using
processing fees. The legal documents should have been checked before charging processing fees and offering sanction letter. Executive is still telling they should deduct some minimal amount 1000Rs and the remaining 10, 582 amount they should return and you talk to bank manager. But their Bank mangaer and
credit officer are very stubborn and reluctanct to refund processing fees even after sending many mails, phonecalls.
Please stay away from Deutsche post bank home finance Ltd for home loan and don't give processing cheque till they confirm all legal documents.
Raghavendra Acha
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